**Company No. 02447000 (England & Wales) Charity No. 802941**
## **KAZZUM ARTS PROJECT**
(a company limited by guarantee)
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **ALISON WARD ACCOUNTANTS CHARTERED CERTIFIED ACCOUNTANTS**
**28 HILLS ROAD BUCKHURST HILL ESSEX IG9 5RS**
**KAZZUM ARTS PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **CONTENTS**
|Pages|1|Trustees' Report|
|---|---|---|
||13|Independent Examiner's Report|
||14|Statement of Financial Activities|
||15|Balance Sheet|
||16|Notes to the Financial Statements|
**KAZZUM ARTS PROJECT TRUSTEES' REPORT - STATUTORY INFORMATION FOR THE YEAR ENDED 31 MARCH 2022**
## **1) References and Administrative Information**
## **TRUSTEES**
Lynne Roberts (Chair) Muhammad Zulfiqar Ali Julia Hodgson Laura Wilkinson Chloe Johnson Petra Tauscher Akilah Jeffers
## **REGISTERED OFFICE**
Oxford House Derbyshire Street London E2 6HG
## **WEBSITE**
www.kazzum.org
## **COMPANY NUMBER**
02447000
## **CHARITY NUMBER**
802941
## **BANKERS**
The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT
## **INDEPENDENT EXAMINER**
Alison Ward Accountants Chartered Certified Accountants 28 Hills Road Buckhurst Hill Essex IG9 5RS
page 1
**KAZZUM ARTS PROJECT TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022**
The trustees (who are also the directors) present their report and the independently examined financial statements of the charitable company for the year ended 31 March 2022. The statutory information is shown on Page 1.
## **2) Activities and Objectives**
Kazzum Arts is a trauma-informed arts charity providing creative opportunities for children and young people who have been impacted by trauma and adversity.
## **Our Vision is that:**
All children and young people can experience hope through creativity.
## **Our renewed Mission is to:**
Use creativity to enable children and young people who have been impacted by trauma and adversity to feel seen, heard and valued.
## **About Us**
Kazzum provides opportunities for children and young people to explore their creativity at times in their lives when they are most in need of support.
We reach children and young people aged 5-25 who have limited opportunity to engage in the arts and who have experienced high levels of Adverse Childhood Experiences which have resulted in social, emotional, and mental health issues, communication needs, disabilities, exclusion, and displacement.
Our programmes have been developed in consultation with young people and are delivered by a diverse team of skilled artist facilitators in partnership with a range of spaces including schools, hospitals and community settings.
Since 2018 we have evolved as a leading trauma-informed arts organisation widening access and inclusion across the arts, education, and charity sectors. We have developed an organisational working culture and specialist approach to support children and young people impacted by trauma and adversity.
Our distinctive model is asset-based and enables children and young people to experience a sense of wellbeing, connection, health, and engagement by:
- Using Creative Arts
- Embodying relationships
- Understanding the impact of trauma
- Recognising systemic and structural factors
page 2
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **3) Achievements and Performance**
Kazzum continued to advocate for children and young people throughout 2021-22, by providing a range of multidisciplinary arts activities which supported mental health and wellbeing.
Children and young people have been disproportionately affected by the Covid-19 pandemic and events of the last few years, which for many of our participants has exacerbated their underlying needs, particularly those from global majority communities.
Our unique trauma-informed approach centres creativity, relationships and self-expression, and operates with a compassionate awareness of the impact of trauma.
We have supported young people to have agency over their experiences by ensuring that youth voice is platformed and centred within our work. We know that when young people feel heard and valued, they are more able to develop transferrable skills, effect personal change, build relationships, and influence social justice.
During 2021-22 Kazzum engaged **1116** children and young people through **328** creative wellbeing workshops. We also clocked up **10,313** views of our wellbeing and advocacy animations for children and young people.
Our trauma awareness training has reached **590** artists, professionals and students working within trauma impacted environments, highlighting best practice and raising awareness.
We employed a core staff of **5** and offered **20** freelance staff contracts throughout the year. All staff were offered continued support opportunities to engage with registered psychotherapists within group and individual reflective practice sessions, as well as access to an Employee Assistance Programme.
Kazzum was awarded the 2021 Culture Health and Wellbeing Alliance �Practicing Well Award�, which recognises our continued efforts to support the work of our exceptionally talented Artists and Staff team. As a small charity working in the context of a global pandemic, it is deeply touching and encouraging for our work to be highlighted as an example of best practice, and for the voices of our community to be amplified on a national level.
Our continued success is a source of great pride in all who flourish within Kazzum Arts, not least the participants with whom we collaborate. The courage and creativity experienced during this year has been astounding and we are looking forward to the continued success and support of Kazzum Arts.
## **Key projects during 2021-22**
## **Work for under 13s included:**
## **Apollo: Using combined arts processes to increase the wellbeing of children aged 5- 16 who are undergoing healthcare and mental health interventions�at Whipps Cross Hospital in Waltham Forest.**
Children in Need awarded Kazzum a 3-year grant in 2018 to support our work on the children�s ward at Whipps Cross Hospital.
page 3
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
This year we were also generously funded by the London Borough of Waltham Forest. With support from the healthcare teams and hospital play services, we were able to deliver three week-long residencies at Whipps Cross Hospital, coinciding with summer, autumn, and winter. The resulting artworks and installations reflected the resilience, creativity and originality of children and young people on the �Acorn Ward� and were enjoyed by patients, parents/carers, and staff.
A hospital stay can be a source of great anxiety and isolation for children and young people, so we also produced a series of activity packs to be engaged with remotely at bedside. The packs supported children�s mental health and wellbeing through creativity, laughter and joy.
_�My favourite thing that I did today was making origami hearts, it made me feel very calmed and I made it for my sister.� - Participant �The Children felt less anxious because of the workshops. The activities at bedside were great as a lot of children were unable to come into the schoolroom.� - NHS Staff_
_�These activities are really good. My child is nervous in hospital, so this is helping her and other children to relax. Kazzum should be here every day to do activities like this.� - Parent_
## **Speech Bubbles: A drama and oracy intervention supporting primary school children aged 5-7 with speech, language, and communication needs (SLCN)�**
Speech Bubbles is a social franchise that was developed in partnership with London Bubble and the Southwark Pupil Development Centres in 2009 to support children's communication skills, confidence, and wellbeing. The programme is a national evidence-based approach supporting children who lack confidence in communicating, have difficulty organising thoughts, have poor attention or listening skills.
In 2018 Kazzum entered an exciting partnership with London Bubble Theatre Company to deliver the renowned programme across the London Borough of Newham. In 2021 Speech Bubbles became a CIO.
This year Kazzum has been supporting children at Woodgrange Infant School, Royal Wharf Primary, School, Kensington Primary School, and St Stephens Primary School to develop the communication skills needed to create stories, develop relationships, and gain confidence to learn.
_�It is so much fun because you get to do acting and play games [�]. It is very fun because you get to do lots of things. My favourite part is when you get to hold Snowy Peng and tell your favourite things and you get to do stories.� - Participant_
**Work for over 13s:**
**Build: Using multidisciplinary arts activities to increase positive self-identity and selfesteem for young people at the Tower Hamlets Pupil Referral Unit.**
page 4
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
Kazzum successfully secured grants from the Mayor's Young Londoners Fund and the London Borough of Tower Hamlets Council to deliver the Build project between 2019 � 2023.
The Build Project takes place at the London East Alternative Provision in Tower Hamlets and works with small groups of young people aged 14-16 across Key stage 4. The project employs multidisciplinary creative approaches which respond to the needs and interests of the groups.
In addition to the weekly workshops, we created our �Rights in Focus� toolkit, supporting young people to explore and advocate for their human rights�through a series of creative activities and distributed wellbeing activity packs�to support young people at home during the holiday periods.
_�I learnt about myself._ � _� Participant_
_�I enjoy it! I feel this is a bit like counselling because you can talk about your issues.� � Participant_
## **Pathways: Creative wellbeing projects and training for young migrants, refugees and asylum seekers�**
Pathways focuses on the mental health needs of young people affected by displacement and trauma, providing opportunities to regulate stress, reduce isolation and develop skills.
The programme is supported by the National Lottery Community Fund (2018-2022) and incorporates three strands of work, including creative wellbeing projects, training for young people studying ESOL and advocacy workshops for schools.
Training: In partnership with John Ruskin College, Croydon, we worked with ESOL students in-person and online to develop transferable skills, social networks, confidence, and wellbeing. Students received accreditation through the AQA Unit Award Scheme.
_�We never have a chance to play games, but here I am playing games and understanding and following and doing well.� - Participant_
_�I feel joy and happiness to be a part of this group.� - Participant_
Wellbeing: Working in partnership with Refugee community groups across London, young people are encouraged to share their experiences of living in the UK. This year we supported young people's wellbeing and expression online and in person through games, discussion, poetry and visual arts. These activities were delivered in collaboration with leading refugee organisations Young Roots, Caras, Shpresa, and the Refugee Council.
This work was also supported by The Swan Mountain Trust and Tesco.
_�In ordinary life we hardly realize that we receive a great deal more than we give and that�s how it feels being on a Friday evening session. All the laughter and joy that gives my day a lift of cheerfulness and lifts my mood swings.� - Participant_
_�The participants understood and felt they were welcomed and in a safe space, it helped them build self-confidence, they were supported to express themselves in every way they were comfortable with and to practise artistic skills. They developed a sense of belonging.� - Group Leader_
page 5
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
Advocacy: With additional support from the Shared Endeavour Fund, we created our �What do you know about migration?� series, which included a range of resources to support students aged 5-16 to reflect upon the experiences of young asylum seekers, refugees, and migrants. The activities highlight the positive contributions of migrant communities and support students to have empathy and challenge negative stereotypes.
As part of this work Kazzum developed an animation �Joe like this� in collaboration with Brighter Futures and poet Arji Manuelpillai, which captured the experiences of being a young migrant in the UK.
- _�The resources are brilliant. The children really engaged with the video and know what to do if they encounter someone in that position.� - Teacher_
- _�Students were surprised at the severity of the issues people face and have decided to do more to make others feel welcomed.� - Teacher_
An interim evaluation report was released in May 2021, which demonstrated the efficacy and impact of our work with young migrants, refugees and asylum seekers.��
_�They are the best art and drama/creative organisation that we have contact with who work with young refugees and asylum seekers � others are never as good as Kazzum� - External stakeholder_
## **Brighter Futures: A group of young migrants aged 18-30 united by a passion and commitment to challenging negative perceptions of migration.**
Kazzum�s partnership with Praxis Community Projects and their Brighter Futures group continued to strengthen. Brighter Futures is a project with a long history of supporting young people facing immigration issues to have a voice.
We have co-facilitated weekly online and in-person sessions with the group, supporting their creativity, wellbeing, and activism.
This year the group were featured in the Big Issue, participated in the Structural Inequalities Webinar on immigration policy and food insecurity and took part in an event at King�s College London around Arts and Mental Health.
- _�One lesson I took with me was to always embrace that creative side, which can sometimes be the thing you need to heal in life.� - Participant_
## **Work supporting Professional Practice included:**
**Trauma Awareness Training: Introducing practitioners to the key principles, supporting knowledge, insight and relational capacities when delivering participatory arts activity with children and young people who have lived experience of trauma.**
We have seen increasing interest in our pioneering training which introduces arts, culture, and education practitioners to the key principles within a trauma-informed approach. This year we supported several organisations including, The National Theatre, Art Angels and Time and Talents.
Artistic Director, Alex Evans and Programme Manager Lauren-Joy Cameron carefully adapted offers for online delivery to support practitioners working within trauma impacted
page 6
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
environments. The sessions are interactive and holistic, using the arts to explore both theory and practice within a trauma-informed approach.
_Thank you very much! I have taken away a lot from it and have been using the knowledge gained to help support my own work and workshop facilitation. It has also been a great reminder about the importance of self- care as a practitioner and ways to find support to how we might navigate and respond to trauma exposure.� - Training Participant_
## **Resources: Development and distribution of advocacy and wellbeing resources. Raising awareness of issues facing children and young people and promotion of best practice to deliver trauma informed participatory arts.**
Building upon the success of our digital offer, we have been further developing and distributing our advocacy and wellbeing resources which have been enthusiastically received for their creativity, accessibility and engaging interactive nature.
We released the fourth and final animation of our �Animating Adversity� series which supports practitioners� understanding when working with children and young people affected by adversity. The series has been viewed **14,984** times.
## **Associate Artist scheme: Supporting Artists through professional development days, strategic planning, training, and reflective practice and coaching opportunities.**
Our Associate Artist programme has continued to support diverse, experienced, and emerging Artists through professional development, therapeutic support and employment opportunities.
Our Associate Artist pool increased from 11 to 17 in 2021-22, reflecting Kazzum�s investment in supporting and recognising the contributions made by Artists, and our commitment to support their ongoing development.�
Through our activities, freelance artists experience a sense of community and ownership within Kazzum, mitigating against the uncertainties and secondary trauma experienced by freelance participatory artists.
_�I really value all the support that I receive, it has changed the way I see my place in the industry, highlighted the importance of my work and has brought me confidence in my professional and personal life. The mixture of personal and group sessions has really helped me as a freelancer, and I feel comfortable to approach Kazzum with support on any personal projects.� - Associate Artist_
## **Building an organisation of cultural safety**
To ensure accountability, since 2020 we have included space to discuss social justice issues impacting the children and young people we engage with and our workforce, including AntiRacism, discrimination, and equity.
We are committed to ensuring the values and voices of children and young people are represented at all levels of the organisation, informing the delivery of our work, including planning, creative co-production, consultation and evaluation processes, as well as contributing to the strategic and organisational vision.
page 7
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
In 2022 we began an Arts Council England-funded research and development process to develop our Amplify Youth Voice Strategy addressing representation of children and young people across the organisation. We are exploring accessible, ethical approaches and opportunities for children and young people to experience their agency, collaborate and influence our vision and mission. Our current artistic development and youth-led focus groups have enabled children and young people to inform our next three-year business and activity plans in an advisory capacity.
It is our longer-term ambition to create ethical opportunities for young people and adults who have been impacted by trauma to be part of our governance structure. Our exploration will not overburden or ask people to assume more responsibility than they are comfortable with, particularly due to their transient circumstances. We do not currently feel existing models are appropriate and our exploration will support the systemic organisational change that we are committed to as a trauma informed organisation.
We are dedicated to ensuring that Kazzum remains a space where all people from all intersectional identities feel valued, supported and enabled to thrive and will ensure that Anti-Racism, discrimination and equity remain a priority for the organisation.
## **4) Structure Governance Management**
## _**Constitution**_
Kazzum is registered as a charity and is a company limited by guarantee.
## _**Board of Trustees**_
Details of current Trustees are shown on page 1. Kazzum�s board can comprise a maximum of ten Trustees. Lynne Roberts has served as chair since 2018. Day to day leadership of the company lies with the Artistic Director, Alex Evans and Executive Director, Lauren Irving.
The Board of Trustees meet for quarterly Board meetings to review Kazzum�s activities and strategies including the risk register, safeguarding, finances and fundraising targets. The Finance and Organisational sub-committee meet quarterly to review financial reports, budgets, and internal controls in detail. The Strategic Development subcommittee meet on an ad hoc basis to ensure our relevance through dialogue around artistic policy, strategy & communications.
The Trustees participate in an annual away-day to explore strategic and organisational development and are invited to interact and engage widely with our workforce and participants, through participation in events, workshops, and training.
The Trustees have a wide range of skills pertinent to the Charity, including arts, education, project management, fundraising, law, and children�s rights.
Appointments to the Board of Trustees are made by unanimous agreement of the existing Trustees. The Trustees each bring their own specialism to the board, and skills audits are regularly undertaken to identify gaps. New board members are given a full induction to Kazzum, and any additional training or support is made available on an individual basis.
We recognise the value of representation on our board as we prioritise working with minoritised communities and understand the importance of reflecting this at Trustee level. Several trustees have experienced childhood adversity and have lived experience in
page 8
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
supporting children and young people through parent/carer responsibilities and professional roles. We are committed to creating ethical opportunities within our governance structure for young people and adults who have been impacted by trauma.
## _**Risk**_
The Board of Trustees has examined all the major strategic, financial, operational and artistic risks that are faced by Kazzum. A risk management policy is in place, outlining the procedures and reviews that are undertaken so that appropriate measures may be taken to lessen these risks. Kazzum holds a comprehensive risk register, however the two main areas of risk that have been identified as having the greatest impact on Kazzum�s activities are as follows:
- _1)_ Risk relating to lack of diversity of funding, income, financial sustainability, and rising inflation. We seek to minimise the impact of this risk through:
- Adapting our Fundraising Strategy to incorporate our response to Covid-19 and beyond.
- Continuing to work with a freelance fundraiser to build awareness of Kazzum amongst funders and increase the momentum of our fundraising activity.
- � Ensuring budgets demonstrate value for money and factor in full cost recovery and rising inflation.
- Continuing to develop the company's skills through creative consultancy as a way to earn unrestricted income.
- Development of earned income streams including training packages to generate unrestricted income.
- Developing and increasing meaningful partnerships to support donations and commissions.
- _2)_ Risk relating to staff wellbeing and sudden loss of key staff. As an experienced, small and busy staff team, working in trauma impacted environments, sudden loss of key staff could have a major impact on the operating capacity of the company and quality of work. We seek to minimise this impact of this risk through:
- Working in an open and collaborative way, ensuring that the wider team has a solid understanding of the activities across the company.
- Weekly team meetings.
- Offering flexibility, a clear time off in lieu policy, support from the Trustee team and regular appraisal opportunities.
- Factoring in salary and pension increases within proposed budgets to support staff retention.
- Providing regular support opportunities including an Employee Assistance programme, reflective practice and coaching.
- Offering regular training opportunities.
- Developing robust recruitment policies and procedures.
page 9
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **Plans for 2022-2023**
Kazzum will continue to advocate for children and young people at a time when inequalities are deepening, and solidarity is needed more than ever.
Young people have been disproportionately affected by the Covid-19 pandemic and events of the last year, which for many of our participants has exacerbated their underlying needs, particularly those from black and minoritized backgrounds.
In the next year and beyond, we aim to use our trauma informed approach to support young people to have agency over their experiences by ensuring that youth voice is platformed and centred within our work. We know that when young people feel heard and valued and have the opportunity to influence our activities that they are more able to develop transferrable skills, effect personal change, build relationships, and influence social justice.
We will continue to respond to Covid-19 by providing accessible opportunities which allow for blended online and in-person delivery, and co-creation of tools and resources that advocate for children and young people's mental health and wellbeing through a trauma informed lens.
Our activities will include:
- Responding to the emerging needs of children and young people impacted by Covid-19. � Developing our knowledge and practice around being Trauma Informed, Rights Focussed and Culturally Aware.
- Developing our next 3-year Business Plan for 2022-2025.
- Exploring methods of participation to enhance youth voice and agency across our work.
## **Financial Review**
Kazzum Arts receives the majority of its income from grants from Trusts and Foundations. 2021-22 saw the organisation build new relationships and increase our support from individuals to support our trauma informed activities and the emerging needs of our participants and artists.
We're extremely grateful to the continued support received from all donors as it has allowed us to continue to adapt our programmes and grow our capacity and resources to deliver creative activities with young people.
Our planned deficit for the year was £21,847, due to restricted and designated funds being carried over from 2021-22 to support activity throughout the year.
The balance of restricted funds at 31 March 2022 was £56,562 funding received in advance of expenditure on different projects which has been allocated during 2022-23.
Our income decreased this year due to funds being received in advance of activity during the previous financial year, however Kazzum saw an increase in unrestricted income. This included a 95% increase in donations and a 30% increase in earned income generated from our trauma awareness training and partnerships.
page 10
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
In the future, we aim to build upon the success of generating contributions from individuals and earned income opportunities to grow our unrestricted income which will allow us more flexibility. We remain focused on developing our fundraising capacity so that we can provide sustainable, reliable services for the young people who rely on our support.
## **Reserves Policy**
The management committee has examined Kazzum's requirement for reserves considering the main risks to the organisation, its contractual obligations and the planned future growth and development of the organisation.
At the balance sheet date of 31 March 2022, Kazzum held total unrestricted funds of £139,222 (2021 - £151,904) of which the committee has designated £98,300 (2021 - £127,994).
The committee have designated funds to ensure the continuation of our activity in 2022-23
- Maternity pay and entitlements - £10,000
- Unrestricted donation to support activity in 2022-23 - £12,000
- Donation made by 23red to support Pathways in 2022-23 - £3,000
- Speech Bubbles franchise fee - £2,400
- Beormund School project - £8,000
- Brighter Futures delivery costs and support - £2,900
The committee has established a policy whereby the target for designated funds held should be £60,000. This is equivalent to approximately 6 months operating costs.
A total of £40,922 is held in unrestricted funds not committed to designated funds or invested in tangible fixed assets held by the charity.
In line with our risk mitigation strategy and our experience of the Covid-19 pandemic and the current economic climate these unrestricted funds may be allocated to shortfalls in funding to safeguard and support the organisation to build resilience in changing circumstances. This will ensure we can provide consistency and continue to deliver the highest quality work to make the greatest impact for our beneficiaries.
Our reserve levels and policy will be reviewed by the management committee on a quarterly basis.
## **Directors/Trustees**
The directors/trustees who served during the year are shown below:
Lynne Roberts (Chair) Muhammad Zulfiqar Ali (elected 26 July 2021) Frances Brown (stood down 11 August 2021) Julia Hodgson Laura Wilkinson Chloe Johnson Petra Tauscher Akilah Jeffers
page 11
**KAZZUM ARTS PROJECT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **Directors' responsibilities**
Company and charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to:-
1) select suitable accounting policies and then apply them consistently.
2) make judgements and estimates that are reasonable and prudent.
3) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Small company exemptions**
This report has been prepared and delivered in accordance with the provisions in Part 15 of Companies Act 2006 applicable to companies subject to the small companies' regime.
This report was approved by the board on 25 October 2022 and signed on their behalf.
Laura Wilkinson, Trustee
page 12
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KAZZUM ARTS PROJECT FOR THE YEAR ENDED 31 MARCH 2022**
I report on the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
25 October 2022
Alison Ward FCCA
Alison Ward Accountants 28 Hills Road Buckhurst Hill Essex IG9 5RS
page 13
## **KAZZUM ARTS PROJECT STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022**
|**Unrestricted Restricted Designated**
**Note Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Income:**
Donations and
legacies
4
28,117
121,432
25,000
Income from
charitable
activities
5
36,898
-
8,000
Income from
investments
6
10
-
-
**Total income**
65,025
121,432
33,000
**Expenditure on:**
Raising funds
7
4,060
-
-
Charitable
activities
8
20,675
124,689
91,880
**Total**
24,735
124,689
91,880
**Net income\**
**(expenditure)**
40,290
(3,257)
(58,880)
Transfer
between funds
10
(23,278)
(5,908)
29,186
**Net movement**
**in funds**
17,012
(9,165)
(29,694)
**Reconciliation of Funds**
Total funds
brought forward
23,910
65,727
127,994
**Total funds**
**carried forward**
40,922
56,562
98,300|**Total**
**_Unrestricted Restricted Designated_**
**_Total_**
**2022**
**_Funds_**
**_Funds_**
**_Funds_**
**_2021_**
**£**
**_£_**
**_£_**
**_£_**
**_£_**
174,549
_4,947_
_200,339_
_57,000_
_262,286_
44,898
_28,375_
_-_
_-_
_28,375_
10
_36_
_-_
_-_
_36_
219,457
_33,358_
_200,339_
_57,000_
_290,697_
4,060
_2,286_
_900_
_-_
_3,186_
237,244
_9,447_
_181,765_
_35,758_
_226,970_
241,304
_11,733_
_182,665_
_35,758_
_230,156_
(21,847)
_21,625_
_17,674_
_21,242_
_60,541_
-
_(16,684)_
_(4,571)_
_21,255_
_-_
(21,847)
_4,941_
_13,103_
_42,497_
_60,541_
217,631
_18,969_
_52,624_
_85,497_
_157,090_
195,784
_23,910_
_65,727_
_127,994_
_217,631_|**Total**
**_Unrestricted Restricted Designated_**
**_Total_**
**2022**
**_Funds_**
**_Funds_**
**_Funds_**
**_2021_**
**£**
**_£_**
**_£_**
**_£_**
**_£_**
174,549
_4,947_
_200,339_
_57,000_
_262,286_
44,898
_28,375_
_-_
_-_
_28,375_
10
_36_
_-_
_-_
_36_
219,457
_33,358_
_200,339_
_57,000_
_290,697_
4,060
_2,286_
_900_
_-_
_3,186_
237,244
_9,447_
_181,765_
_35,758_
_226,970_
241,304
_11,733_
_182,665_
_35,758_
_230,156_
(21,847)
_21,625_
_17,674_
_21,242_
_60,541_
-
_(16,684)_
_(4,571)_
_21,255_
_-_
(21,847)
_4,941_
_13,103_
_42,497_
_60,541_
217,631
_18,969_
_52,624_
_85,497_
_157,090_
195,784
_23,910_
_65,727_
_127,994_
_217,631_|**Total**
**_Unrestricted Restricted Designated_**
**_Total_**
**2022**
**_Funds_**
**_Funds_**
**_Funds_**
**_2021_**
**£**
**_£_**
**_£_**
**_£_**
**_£_**
174,549
_4,947_
_200,339_
_57,000_
_262,286_
44,898
_28,375_
_-_
_-_
_28,375_
10
_36_
_-_
_-_
_36_
219,457
_33,358_
_200,339_
_57,000_
_290,697_
4,060
_2,286_
_900_
_-_
_3,186_
237,244
_9,447_
_181,765_
_35,758_
_226,970_
241,304
_11,733_
_182,665_
_35,758_
_230,156_
(21,847)
_21,625_
_17,674_
_21,242_
_60,541_
-
_(16,684)_
_(4,571)_
_21,255_
_-_
(21,847)
_4,941_
_13,103_
_42,497_
_60,541_
217,631
_18,969_
_52,624_
_85,497_
_157,090_
195,784
_23,910_
_65,727_
_127,994_
_217,631_|
|---|---|---|---|
|||_57,000_|_290,697_|
|||_-_
_35,758_|_3,186_
_226,970_|
|||_35,758_|_230,156_|
|||_21,242_
_60,541_
_21,255_
_-_||
|||_42,497_
_85,497_|_60,541_
_157,090_|
|||_127,994_|_217,631_|
The company made no recognised gains and losses other than those reported in the income and expenditure account.
The notes on pages 16 to 25 form part of these financial statements
page 14
**KAZZUM ARTS PROJECT**
|**KAZZUM ARTS PROJECT**|||||
|---|---|---|---|---|
||**Company registered number:**|||**02447000**|
|**BALANCE SHEET AT 31 MARCH 2022**|||||
||**Note**|**2022**||**_2021_**|
|||**£**|**£**|**_£_**|
|**FIXED ASSETS**|11||**-**|_-_|
|**CURRENT ASSETS**|||||
|Debtors|12|**5,835**||_2,757_|
|Cash at bank and in hand||**196,663**||_225,979_|
|||**202,498**||_228,736_|
|**CREDITORS: Amounts falling due within one**|||||
|**year**|13|**(6,714)**||_(11,105)_|
|**NET CURRENT ASSETS**|||**195,784**|_217,631_|
|**NET ASSETS**|||**195,784**|_217,631_|
|**FUNDS**|||||
|Unrestricted funds|14||**40,922**|_23,910_|
|Designated funds|14||**98,300**|_127,994_|
|Restricted funds|14||**56,562**|_65,727_|
||||**195,784**|_217,631_|
In approving these financial statements as trustees of the charitable company we hereby confirm that:
For the year ending 31 March 2022 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
## **The accounts were approved by the board of trustees on 25 October 2022**
## Laura Wilkinson, Trustee
The notes on pages 16 to 25 form part of these financial statements
page 15
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **1a. Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP FRS 102), the Charities Act 2011 and the Companies Act 2006.
Kazzum Arts Project meets the definition of a public benefit entitiy under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **1b. Preparation of the accounts on a going concern basis**
Kazzum Arts Project has reported a planned deficit of £21,847 for the year.
As a grant-funded organisation that depends on restricted grant funding for a large part of its income, Kazzum Arts Project often begins the financial year without having secured all the income to cover its operational costs in the year. The trustees have built and maintained reserves for temporary use in these circumstances.
The uncertain economic outlook and willingness of the public and trusts to donate is a significant area of uncertainty. There is a risk that the charity may need to permanently use some of its reserves. The trustees mitigate this risk by regularly monitoring the finances and activities of the charity.
## **1c. Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether �capital� grants or �revenue� grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a specified service it is deferred until the criteria for income recognition are met (see notes 4 and 5).
page 16
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1d. Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. The trustees� annual report contains information about the contribution to the charity made by volunteers.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **1e. Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally on notification of the interest paid or payable by the Bank.
## **1f. Funds**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations or grants which the donor has specified are to be used solely for particular purposes/areas of the charity's work or for specific projects undertaken by the charity.
## **1g. Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activitiy headings:
- Costs of raising funds comprise the fundraisers fees and associated support costs.
- Expenditure on charitable activities includes the costs of running the various artistic programmes and other activities undertaken to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
page 17
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1h. Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance personnel, payroll and governance costs which support the charity's grant programme and activities. These costs have all been allocated to expenditure on charitable activities as the fundraising costs are a very small relative to the programme costs and should not bear any of the support costs.
## **1i. Tangible fixed assets**
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
% Fixtures and fittings 25 Equipment 25
## **1j. Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1k. Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1l. Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
page 18
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1m. Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. Legal status of the charity**
The company, number 02447000, is limited by guarantee and has charitable status. The charity registration number is 802941. It has a Memorandum and Articles of Association as its governing document. The liability of each member in the event of winding-up is limited to £1.
## **3. Staff costs and remuneration of key management personnel**
The charity considers its Key Management Personnel to be the directors/trustees, the Artistic Director and Executive Director.
|Staff costs during the year amounted to:||**2022**||**_2021_**|
|---|---|---|---|---|
|||**£**||**_£_**|
|Wages and salaries||122,502||_114,045_|
|Social security costs||7,290||_6,855_|
|Pension costs||6,118||_5,690_|
||£|135,910|_£_|_126,590_|
The number of employees during the year was 5 (2021 - 4).
No employee earned more than £60,000 during the year.
page 19
## **KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **4. Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Restricted**||**Total**|**_Unrestricted_**|**_Unrestricted_**|**_Restricted_**|**_Restricted_**||**_Total_**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Funds**||**Funds**||**2022**||**_Funds_**||**_Funds_**||**_2021_**|
|||**£**||**£**||**£**||**_£_**||**_£_**||**_£_**|
|Arts Council England||-||13,410||13,410||_-_||_19,653_||_19,653_|
|The National Lottery|||||||||||||
|Community Fund||-||57,646||57,646||_-_||_62,054_||_62,054_|
|BBC Children in Need||-||-||-||_-_||_9,867_||_9,867_|
|Greater London Authority||-||17,423||17,423||_-_||_37,168_||_37,168_|
|The MBILI Charitable Trust||-||3,000||3,000||_-_||_-_||_-_|
|London Borough of Waltham|||||||||||||
|Forest||-||10,000||10,000||_-_||_-_||_-_|
|Local Community Fund - LB|||||||||||||
|Tower Hamlets||-||18,158||18,158||_-_||_18,158_||_18,158_|
|Bleu Blanc Rouge|||||||||||||
|Foundation||25,000||-||25,000||_25,000_||_-_||_25,000_|
|The Baring Foundation||-||-||-||_12,000_||_-_||_12,000_|
|The National Lottery|||||||||||||
|Community Fund - Covid|||||||||||||
|emergency funding||-||-||-||_-_||_21,556_||_21,556_|
|The City Bridge Trust||-||-||-||_-_||_14,803_||_14,803_|
|Groundwork UK||-||1,795||1,795||_-_||_7,180_||_7,180_|
|Swan Mountain Trust||-||-||-||_-_||_4,000_||_4,000_|
|Garfield Weston Foundation||-||-||-||_20,000_||_-_||_20,000_|
|CAST||-||-||-||_-_||_5,000_||_5,000_|
|TESCO||-||-||-||_-_||_900_||_900_|
|Donations||28,117||-||28,117||_4,947_||_-_||_4,947_|
||£|53,117|£|121,432|£|174,549|_£_|_61,947_|_£_|_200,339_|_£_|_262,286_|
Included in the £53,117 (2021 - £61,947) unrestricted income above is £25,000 (2021 - £57,000) which the trustees designated during the year. It is shown as designated income on the face of the Statement of Financial Activities on Page 14.
The charity benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
page 20
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **5. Income from charitable activities**
|**Income from charitable activities**|||||||||
|---|---|---|---|---|---|---|---|---|
||**Unrestricted**||**Restricted**|||**Total**||**_Total_**|
|||**Funds**|**Funds**|||**2022**||**_2021_**|
|||**£**||**£**||**£**||**_£_**|
|Consultancy income, workshop fees|||||||||
|and training||44,898||-||44,898||_28,375_|
||£|44,898|£|-|£|44,898|_£_|_28,375_|
Included in the £44,898 unrestricted income above is £8,000 which the trustees designated during the year. It is shown as designated income on the face of the Statement of Financial Activities on Page 14.
All income from charitable activities in 2021 was unrestricted.
## **6. Income from investments**
|**Income from investments**|||||||||
|---|---|---|---|---|---|---|---|---|
||**Unrestricted**||**Restricted**|||**Total**||**_Total_**|
||**Funds**||**Funds**|||**2022**||**_2021_**|
|||**£**||**£**||**£**||**_£_**|
|Bank interest receivable||2||-||2||_36_|
|Interest on Gift Aid claim||8||-||8||_-_|
||£|10|£|-|£|10|_£_|_36_|
All income from investments in 2021 was unrestricted.
## **7. Expenditure on raising funds**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Restricted**||**Total**|**_Unrestricted_**|**_Unrestricted_**|**_Restricted_**|**_Restricted_**||**_Total_**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|||**2022**||**_Funds_**|**_Funds_**|||**_2021_**|
|||**£**||**£**||**£**||**_£_**||**_£_**||**_£_**|
|Fundraisers' fees||3,840||-||3,840||_2,070_||_900_||_2,970_|
|Fundraising costs||220||-||220||_216_||_-_||_216_|
||£|4,060|£|-|£|4,060|_£_|_2,286_|_£_|_900_|_£_|_3,186_|
page 21
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **8. Expenditure on charitable activities**
|**Expenditure on charitable activities**|||||||||
|---|---|---|---|---|---|---|---|---|
||**Unrestricted**||**Restricted **||**Designated**|||**Total**|
|||**Funds**||**Funds**||**Funds**||**2022**|
|||**£**||**£**||**£**||**£**|
|**2022**|||||||||
|Personnel - salaries and contractors||(1,198)||70,151||66,957||135,910|
|Travel||585||-||-||585|
|Production expenses||4,877||54,538||11,790||71,205|
|Organisational development||516||-||2,500||3,016|
|Publicity||2,569||-||41||2,569|
|Rent and premises costs||4,070||-||8,140||12,210|
|Remote working costs||158||-||-||158|
|Insurance||1,893||-||-||1,893|
|Telephone||348||-||216||564|
|Repairs & renewals||1,817||-||2,032||3,849|
|Website and IT costs||314||-||-||314|
|Printing, postage and stationery||8||-||-||8|
|Memberships and subscriptions||1,343||-||-||1,343|
|Payroll running costs||458||-||-||458|
|Bank charges||24||-||-||24|
|Sundry expenses||889||-||204||1,093|
|Governance costs||2,004||-||-||2,004|
||£|20,675|£|124,689|£|91,880|£|237,203|
|**_2021_**|||||||||
|_Personnel - salaries and contractors_||_(3,748)_||_111,430_||_18,908_||_126,590_|
|_Travel_||_119_||_-_||_-_||_119_|
|_Production expenses_||_4,293_||_64,275_||_9,920_||_78,488_|
|_Publicity_||_721_||_-_||_-_||_721_|
|_Rent and premises costs_||_1,062_||_6,060_||_4,432_||_11,554_|
|_Remote working costs_||_1,747_||-||-||_1,747_|
|_Insurance_||_-_||_-_||_1,473_||_1,473_|
|_Telephone_||_219_||_-_||_-_||_219_|
|_Repairs & renewals_||_1,699_||_-_||_982_||_2,681_|
|_Website and IT costs_||_158_||_-_||_43_||_201_|
|_Printing, postage and stationery_||_4_||_-_||_-_||_4_|
|_Memberships and subscriptions_||_980_||_-_||_-_||_980_|
|_Payroll running costs_||_435_||_-_||_-_||_435_|
|_Bank charges_||_24_||_-_||_-_||_24_|
|_Sundry expenses_||_281_||_-_||_-_||_281_|
|_Governance costs_||_1,453_||-||_-_||_1,453_|
||_£_|_9,447_|_£_|_181,765_|_£_|_35,758_|_£_|_226,970_|
page 22
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **9. Governance costs**
|**Governance costs**|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||**Unrestricted**||**Restricted **||**Designated**|||**Total**||**_Total_**|
|||**Funds**|**Funds**||**Funds**|||**2022**||**_2021_**|
|||**£**||**£**||**£**||**£**||**_£_**|
|Trustee meeting costs||491||-||-||491||_-_|
|Companies House filing|||||||||||
|fee||13||-||-||13||_13_|
|Independent examiner's|||||||||||
|fees||1,500||-||-||1,500||_1,440_|
||£|2,004|£|-|£|-|£|2,004|_£_|_1,453_|
All governance costs in 2021 were unrestricted.
## **10. Transfer between funds**
The transfer between funds of £5,908 represents the contribution to core costs made by the restricted funds. The £29,186 represents an increase in the level of designated funds to that stated under Reserves Policy in the Trustees' Report.
page 23
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **11. Tangible fixed assets**
|**Furniture &**
**Office**
**Fittings**
**Equipment**
**Total**
**£**
**£**
**£**
**Cost**
At 1 April 2021
1,000
14,580
15,580
At 31 March 2022
1,000
14,580
15,580
**Depreciation**
At 1 April 2021
1,000
14,580
15,580
At 31 March 2022
1,000
14,580
15,580
**Net Book Amounts**
At 31 March 2022
-
£
-
£
-
£
**12. Debtors**
**2022**
**_2021_**
**£**
**_£_**
Trade debtors
644
_200_
PAYE control
244
_244_
Other debtors
3,008
_420_
Prepayments
1,939
_1,893_
5,835
£
_2,757_
_£_
**13. Creditors: Amounts falling due within one year**
**2022**
**_2021_**
**£**
**_£_**
Trade creditors
252
_5,141_
Other creditors including taxation and social security
2,850
_2,682_
Accruals
3,612
_3,282_
6,714
£
_11,105_
_£_||**Total**
**£**
15,580|
|---|---|---|
|||15,580|
|||15,580|
|||15,580|
|||-|
||**_2021_**
**_£_**
_200_
_244_
_420_
_1,893_
_2,757_
_£_
**_2021_**
**_£_**
_5,141_
_2,682_
_3,282_|**_2021_**
**_£_**
_200_
_244_
_420_
_1,893_|
|||**_2021_**
**_£_**
_5,141_
_2,682_
_3,282_|
|||_11,105_|
page 24
**KAZZUM ARTS PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **14. Analysis of net assets between funds**
|**Analysis of net assets between funds**|||||||||
|---|---|---|---|---|---|---|---|---|
||**Unrestricted **||**Restricted **||**Designated**||||
|||**Funds**||**Funds**||**Funds**||**Total**|
|||**£**||**£**||**£**||**£**|
|**Fund Balances at 31 March 2022 are**|||||||||
|**represented by**|||||||||
|Current assets||47,636||56,562||98,300||202,498|
|Current liabilities||(6,714)||-||-||(6,714)|
|**Total Net Assets**|£|40,922|£|56,562|£|98,300|£|195,784|
|**_Fund Balances at 31 March 2021 are_**|||||||||
|**_represented by_**|||||||||
|_Current assets_||_35,015_||_65,727_||_127,994_||_228,736_|
|_Current liabilities_||_(11,105)_||_-_||_-_||_(11,105)_|
|**_Total Net Assets_**|_£_|_23,910_|_£_|_65,727_|_£_|_127,994_|_£_|_217,631_|
## **15. RELATED PARTIES (including trustees expenses)**
The trustees neither received nor waived any emoluments during the year (2021 - £Nil).
page 25